Topic: What do you think are the biggest disadvantages of Bitcoin? - page 87. (Read 76730 times)
For me I think the disadvantage of bitcoin is that if you don't have proper data connection, you/we cannot trade your bitcoin without it, and the next one was the fluctuation of the price especially if you are neophyte in trading it will be difficult for you to do it so well.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved 
I think the greatest disadvantage is being scammed. Too many btc scammers are running around.
So you want to make a new blockchain better then the current one ? That's a lot to take in but good luck to you.
Well, there are some disadvantages of Bitcoin, and what i want to tell is the acceptance of Bitcoin. There are only limited stores that accept bitcoin and it is really not efficient. In my case, I convert my bitcoin to real money so I can buy the clothes that I want. If many stores are accepting Bitcoins, it is really efficient and it can be used by many people and I think the demand of Bitcoin will rise also its price. What do you think?
Probably that you can't flip them right away for actual money
Takes too long :/
Takes too long :/
well I can exchange them for fiat in a few moments, there is an online local service that buys/sells bitcoin and they're pretty fast, it takes them 30min from transaction for them to deliver the money. That's pretty fast if you ask me.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
I think bitcoin is perfect system but two things that i think needs improvement are 1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved
Probably that you can't flip them right away for actual money
Takes too long :/
Takes too long :/
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
I think bitcoin is perfect system but two things that i think needs improvement are 1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
I think bitcoin is perfect system but two things that i think needs improvement are 1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved
the main disadvantage of bitcoin is that the price of bitcoins is fluctuating very rapidly.and the the account of bitcoins can be hacked now and then until and unless the security of bitcoin wallet is too tight ,goverment cant say anything about it or neither totally support about it .
- Hugely anonymous, it is hard to trace the any people involved in any transactions
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- It has been used in past for illegal activities
cash has a long run to illegal activities but people remember only bitcoins.
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- No one controls it, i.e, dependency on peer-to-peer network
this a disadvantage? Maybe for banks and governments; I see it as advantage
Most users quoted the use of bitcoin into gambling and other illegal activities to be the disadvantageous, but I won't go with it because the that's the primary reason for which bitcoin is created. In my view the small mistake in transaction leading the entire amount to reach someone's wallet and the sender not having a return back feature to be the only disadvantage.
The bigest disadvantage for me is still the public opinion that goes along with bitcoin.
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!
Somehow, I think that this is actually a positive attribute of bitcoins. It kind of serves as a filter. The people that believe everything about the media says and don't do any effort to do their own research would act as childish as when they get in the bitcoin world. I know that we all deserve to be here but their acts would cause stress to the people around him.
Anyways, that's just how it is. The report of the media is a fact ever since. They're not lying about anything. Bitcoin really is being used in illegal transactions and in the dark net.
The fact that due to private transactions, it can be use for illegal purpose. As well as it can lead you to addictions in gambling. In the other hand it is always depend on the user, if you don't know how to control.
The bigest disadvantage for me is still the public opinion that goes along with bitcoin.
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
Since Bitcoin have no drawbacks but have some programs that are mutch annoying . The main problem in Bitcoin is confirmation system . I think the first problem of not confirm of transaction should be solve and secondly the transaction reversed ( in recent days ) should be fixed such that , they should never arise.
many people who say that the time of delivery and also the length of confirmation being one of the biggest shortcomings owned by bitcoin. everyone has experience transact easily and quickly.
Big disadvantages is the wait times for sending them for their confirmations to complete.
Been happening way too many times lately. To my transactions atleast.
This has got to improve or someone has to create a faster way to have these completed.
Been happening way too many times lately. To my transactions atleast.
This has got to improve or someone has to create a faster way to have these completed.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
Bitcoin really does not have any great disadvantage, except the fact people are trying to find or create one. What you can say is a disadvantage maybe like that it is not known to anyone, or its not used to often, it's transaction are slow at time. Otherwise not really any major disadvantage I can remember so far.
Disadvantages of bitcoin are wallets can be hacked and fluctuating. Bitcoins are not widely accepted specially when buying some foods in the market you need to cash out for you to buy those foods and its a bit hassle
Any account online can be hacked. Your paypal, perfectmoney, skrillex, and all other online payment service can be hacked. I think that it's even easier to hack those because blockchain wallet (or any other wallet site) supports email 2FA and/or phone 2FA which decreases the chance of the hacker to get inside your account a lot.
Bitcoins are not widely accepted specially when buying some foods in the market you need to cash out for you to buy those foods and its a bit hassle
This is true even for your paypal, perfectmoney, and skrill funds.
i think bitcoin adoption is going to increase too much faster and bitcoin transaction is much more faster than other currency and bitcoin is getting more stronger and powerful and we know that bitcoin transaction fees is very much lower than other crypto currency.
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